Decent bounce day, made +107bps led by our server plays HPE and DELL. I bought HPE because I don’t want to touch the DELL basis, now up more than 200%. It spiked today on a DELL price target increase. Along that train of thought, many of the AI centric names went higher in spite of...Read More

There wasn’t anything worthwhile outside of AAPL today. Even oil stocks fell with crude +6%. The plunge wasn’t related to the PPI per se, but the cumulative fuckery with promises of $1.3t in free money to the unwashed and the lack of oil and the flaccid attempts by Bessent to support the bond market. One...Read More

All of the consumer related stocks got roped today, due to the harsh realities of $100 crude. I think someone at Anthropic said there was a 15% chance all of humanity might be wiped out one day by Claude bots — but that was not the cause for market consternation. About Mid-day Bessent revealed he’d...Read More

Wide variance in returns today: RSP v SPY, SMH v IGV — due to the tug of war between the world we knew and the one we are entering. For the first time I took it upon myself to build software using only AI. After completing a task that would normally take 11 months to...Read More

Total stupidity once again by markets. By law, if SMH is up MAGS and IGV must be down, alongside all other associated non AI names. Even still, we managed fine — -16bps in spite of AI being back in a big way. Banks and other stocks dragged us lower, albeit better than SPY.But the backdrop...Read More